According to institutional research firm Matrixport, Bitcoin has crossed a threshold that historically separates late-bear capitulation from the early stretch of a new bull market. The shift didn’t come from news, ETFs or regulatory catalysts, but from a structural milestone deep in the chart.
Matrixport’s model is built around a single event: whether Bitcoin manages to print a new 12-month high after spending at least a year without one. Every time that has happened in the past — excluding the outlier 2012 cycle — a multi-month bull phase followed.
That trigger quietly flashed when Bitcoin moved above $31,000, its highest value since June 2022. It wasn’t a dramatic chart pattern or a blow-off candle — just a subtle breach that historically marks the moment when bearish momentum fails for good.
Matrixport examined three comparable historical periods — 2015, 2019 and 2020 — and found that each time this indicator fired, Bitcoin went on to rally aggressively over the next year and a half. On average across those cycles:
Using that average, the firm projects a potential $65K range in the next 12 months, and a possible move toward $125K by late 2024 if the pattern repeats. It is not presented as a forecast of certainty, but as a probability-weighted outcome based on how Bitcoin has behaved in prior transitions from bear markets into new cycles.
Bitcoin’s next block-reward halving — due in March/April 2024 — was not factored into the model, yet it happens to sit inside the same window. Historically, halving events have amplified upside once a new market cycle is already in motion. In this case, Matrixport sees the halving not as the cause of the signal, but as an additional tailwind entering at the right time.
Bitcoin was recently trading in the $30.7K range, inside what Matrixport refers to as the “early expansion zone” — typically the stage of a new cycle when excitement is still limited, disbelief is high and accumulation tends to outweigh profit-taking.
Whether history repeats or diverges will determine whether Bitcoin is at the beginning of a full-scale bull run or simply enjoying a temporary rebound. But according to Matrixport’s model, the cycle may have already turned — and most of the market is only now starting to realize it.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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